Author: Ken Sweet
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Biden administration would cap credit card late fees at $8, part of campaign against junk fees
President Joe Biden is highlighting a proposal to cap all credit card late fees
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Regulator would cap credit card late fees at $8, part of Biden’s campaign against junk fees (copy) (copy)
The U.S. Chamber of Commerce says it’ll file a lawsuit to try to prevent the Biden administration from capping credit card late fees at $8
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Regulator would cap credit card late fees at $8, part of Biden’s campaign against junk fees (copy)
The U.S. Chamber of Commerce says it’ll file a lawsuit to try to prevent the Biden administration from capping credit card late fees at $8
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US eases restrictions on Wells Fargo after years of strict oversight following scandal
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The Biden administration is easing its restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals
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FTX founder agrees to extradition, expected to fly to U.S.
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NEW YORK • Sam Bankman-Fried told a Bahamian court Wednesday that he has agreed to be extradited to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX. The former FTX CEO appeared at a Magistrate’s Court and is expected to head to Odyssey Aviation to return to the United States,…
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Crypto meltdown is wake-up call for many, including Congress
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NEW YORK • Meltdowns in the cryptocurrency space are common, but the latest one really touched some nerves. Novice investors took to online forums to share tales of decimated fortunes and even suicidal despair. Experienced crypto supporters, including one prominent billionaire, were left feeling humbled. When the stablecoin TerraUSD imploded last month, an estimated $40…
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Collectible prices skyrocket, to the dismay of hobbyists
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NEW YORK • Americans have become obsessed with collectibles, bidding up prices for trading cards, video games and other mementos of their youth. The frenzy has brought small fortunes to some, but a deep frustration for those who still love to play games or trade cards as a hobby. Among the items most sought after…
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Filthy lucre: Paper money shunned for fear of virus spread
NEW YORK In a world suffering a pandemic, cash is no longer king. A growing number of businesses and individuals worldwide have stopped using banknotes in fear that physical currency, handled by tens of thousands of people over their useful life, could be a vector for the spreading coronavirus. Public officials and health experts have…
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Wells Fargo to pay $1 billion for mortgage, auto lending abuses
NEW YORK — Wells Fargo is being fined a combined $1 billion by two federal regulators for abuses tied to its mortgage and auto lending businesses. The bank will pay $500 million to the Office of the Comptroller of the Currency, its main bank regulator, as well as $500 million to the Consumer Financial Protection…
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Equifax takes down customer service page after new hack
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NEW YORK — Equifax has taken down one of its web pages after reports that another part of its web site had been hacked as well. The news comes as Equifax Inc. continues to deal with the aftermath of hackers breaking into its system earlier this year which allowed the personal information of 145.5 million Americans to be…